The State Bank of Pakistan (SBP) is promoting greater adoption of cloud infrastructure as part of efforts to accelerate digitalisation across the country’s financial system and broader digital economy. Speaking at the 18th International Information Security Conference in Karachi, SBP Additional Director Ahmed Saeed highlighted the growing importance of cloud technology for financial institutions as Pakistan continues its transition toward digital financial services and a more cashless economy.
According to Saeed, digitalisation of the financial sector cannot progress without adequate cloud infrastructure. He noted that the central bank has already established a cloud framework that allows banks to store material information within private cloud infrastructure located in Pakistan. The framework provides financial institutions with a technology pathway for adopting cloud-based systems while maintaining greater control over sensitive and valuable information.
Saeed also highlighted the potential of a hybrid cloud model, which combines private and public cloud infrastructure, as a suitable approach for Pakistan’s current technological environment. Such a model could allow financial institutions to benefit from the flexibility and scalability of public cloud services while retaining greater control over critical data through private cloud infrastructure. The approach is particularly relevant as banks and other financial entities increasingly depend on technology for digital payments and financial services.
However, the shift toward hybrid cloud infrastructure also presents challenges for financial institutions, particularly around performance, data confidentiality and security visibility. Maintaining appropriate security controls across both private and public cloud environments will remain important as financial institutions expand their use of cloud-based technologies. These considerations are especially significant for the banking sector, where the protection of customer and transaction data is critical.
Pakistan Banks Association CEO and Secretary General Muneer Kamal said the central bank and commercial banks are continuing to work on cybersecurity as the financial sector rapidly shifts toward digital payments and a cashless economy. The discussion highlights how cloud infrastructure, digital finance and cybersecurity are increasingly interconnected, with Pakistan’s financial institutions needing to balance technological expansion with data protection and security requirements.
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